Ripple in Preliminary Talks with Australian Freight & Trade Alliance for Future Partnership

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By BitcoinWiki News

Key Takeaways:

– The Australian Freight & Trade Alliance (FTA) is considering a partnership with Ripple to improve payment systems in Australia’s international supply chain sector.
– Ripple has been looking to expand its global footprint and recently achieved a favorable outcome in its legal battle with the US Securities and Exchange Commission (SEC).
– FTA Director Paul Zalai initially had limited knowledge of blockchain technology but expressed interest in understanding it better after his son invested in Ripple’s digital asset XRP.
– Ripple approached FTA while facing legal challenges, but FTA advised them to come back once regulatory clarity was achieved.
– FTA is a dominant player in Australia’s international supply chain sector, focused on enhancing profitability and efficiency in biosecurity and logistics.
– Ripple’s technology, which enables real-time cross-border payments, has gained interest among major banks in Australia.
– The FTA will review Ripple’s offerings and may promote their product to FTA members.
– Formalizing the partnership is still in discussion, but initial steps will involve information sessions and engagement with FTA members.
– The partnership could disrupt current freight and trade payment systems by streamlining transactions and eliminating intermediaries.
– Incumbents in the industry might need to adapt to blockchain-based transactions or risk becoming less competitive.
– The potential Ripple-FTA partnership could act as a catalyst for modernizing systems and exploring blockchain solutions.


The Australian Freight & Trade Alliance (FTA) is considering a partnership with Ripple, a San Francisco-based fintech firm, to improve payment systems in Australia’s international supply chain sector. Paul Zalai, the Director of FTA, revealed the potential partnership and acknowledged his limited understanding of blockchain technology. He mentioned that Ripple had approached FTA previously but was declined due to its legal battle with the US Securities and Exchange Commission (SEC). However, with the legal issues resolved, FTA expressed interest in Ripple’s technology, particularly its ability to generate real-time cross-border payments. FTA will review Ripple’s offerings and consider promoting them to its members. The talks between Ripple and FTA have the potential to disrupt payment systems in the freight and trade industry, which currently rely on intermediaries and are slow and costly. Ripple’s blockchain-based payment solutions could provide a more efficient method, and incumbents may need to adapt or explore their own blockchain solutions to remain competitive.

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